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Level 1
posted Jul 26, 2023 11:40:59 AM

Estate Tax Portability

My wife and I have net worth of $15M.  If she dies before me, would her estate be able to transfer (portability) her Estate Tax Exemption amount to me?  Is all of the $15M community property? Would her Estate Tax only report her community number property half?  Is there any benefit to how the $15 M is registered?  (eg only $1M is registered in her name or jointly with me). 

0 1 506
1 Replies
Level 15
Jul 26, 2023 11:50:05 AM

You really do need to consult with legal counsel experienced in estate planning issues.

 

Portability, in general, is available but not automatic (it typically requires filing a 706, which is beyond the capability of most).

 

Please consult with legal and or tax professionals in your state.

 

See https://www.avvo.com/estate-planning-lawyer.html